In: Accounting
Using the list provided match the following vendor and expense transaction with the description of the transaction.
I have to match the transactions with the description given.
These are the transactions given:
Expense Check Bill Pay Bills Purchase Order Vendor Credit Credit Card Credit
These are the descriptions given:
1.The form used to select bills we want to pay.
2. The form used to order and track products from vendors.
3. The onscreen form used to record products and services that we pay for at the time we received the product or service with cash, credit card or check.
4.The form used when a vendor gives us a refund or reduction in our bill in what we owe the vendor.
5. This form can be used when we pay for products and service at the time of purchase, but cannot be used when we pay with cash or credit card.
6. A form used to record a reduction in charges by the vendor to our credit card.
7. The onscreen form used to record bills we received and the
obligation to pay the vendor later (accounts payable).
Solution:
Below are the correct matches of the transactions with the description given.
1 | The onscreen form used to record products and services that we pay for at the time we received the product or service with cash, credit card or check. | Expense Check |
2 | The form used to order and track products from vendors. | Purchase Order |
3 | The onscreen form used to record products and services that we pay for at the time we received the product or service with cash, credit card or check. | Pay Bills |
4 | The form used when a vendor gives us a refund or reduction in our bill in what we owe the vendor. | Vendor Credit |
5 | This form can be used when we pay for products and service at the time of purchase, but cannot be used when we pay with cash or credit card. | Bill |
6 | A form used to record a reduction in charges by the vendor to our credit card. | Credit Card Credit |
7 | The onscreen form used to record bills we received and the obligation to pay the vendor later | (accounts payable) |